Sagun Garg

3 x Founder/CTO (15+yrs), 2 x CTO Advisor, 3 x EIR, 9+ Polyglot Programmer, ex-Deloitte, B-Tech(CS).

[3 x Startups] [GitHub] [X/Twitter] [Blog] [Google Scholar]
Written by Sagun Garg
on 

September2024 - BTC | Intersection of AI and Bitcoin

AI could lead to a world of “hyper deflation” where the cost of goods and services tends toward zero due to increased automation and efficiency and Bitcoin could serve as a standard measurement tool for wealth and value, similar to how the meter is used to measure distance.

Youtube Podcast Link

Interseaction of AI and Bitcoin:

Here are the key important points discussed in this podcast:

  1. The guest, Sagun Garg, has been involved in Bitcoin for over 11+ years and views it as a revolutionary technology that combines computer science, security protocols, and economics. The polymathic nature of the Bitcoin technology is what got him curious and involved since 2013.

  2. Bitcoin is described by him as “discovered money” rather than invented money, comparable to how humans discovered fire or electricity rather than inventing them.

  3. The podcast discusses the potential future intersection of AI and Bitcoin, suggesting AI could lead to a world of “hyper deflation” where the cost of goods and services tends toward zero due to increased automation and efficiency.

  4. In this future scenario, Bitcoin could serve as a standard measurement tool for wealth and value, similar to how the meter is used to measure distance.

  5. The discussion touches on the future of central banking, suggesting that while fiat currencies may not disappear entirely, Bitcoin could become a new “gold standard” backing these currencies.

  6. Institutional custody of Bitcoin is explored, with a focus on multi-signature and multi-institutional custody solutions as a way for large institutions to securely hold Bitcoin.

  7. The potential for sovereign states to hold Bitcoin reserves is discussed, with the example of Bhutan leveraging hydroelectric power for Bitcoin mining.

  8. The podcast differentiates between Bitcoin and other cryptocurrencies, comparing the latter to loyalty reward points rather than true hard money.

  9. The capabilities of Bitcoin for inheritance planning and wealth transfer through time-locked transactions are highlighted.

  10. The conversation concludes with a discussion on the ethical implications and potential risks of AI development, with the guest expressing optimism about humanity’s ability to control and benefit from new technologies.